Collapse & chaos: SVB, Signature Bank failures spark global panic
By France24
21 March 2023 |
7:53 am
Is America facing a banking crisis? As regulators try to stem the fallout from the collapse of Silicon Valley and Signature Banks, we look at the risks for the rest of the system. Kate Moody speaks to economist Nicolas Veron from the Peterson Institute for International Economics and the European think tank Bruegel.
In this article
Related
18 Nov 2022
John Ray III said the trading firm was poorly regulated in the Bahamas, where the company is headquartered. He also criticized the poor management style of his predecessor, Sam Bankman-Fried.
18 Dec
Can Dundar, the former editor-in-chief of Cumhuriyet, one of Turkey's main newspapers, discussed the press freedom situation in his native country during an interview with FRANCE 24. "If you are challenging the government's interests, you are branded a terrorist or a traitor," he said. Dundar added that President Recep Tayyip Erdogan was trying to create chaos in a bid to win the next elections, scheduled for June 2023.
16 Dec
In 2019, Otache Sunday Emmanuel survived a building collapse, but his pregnant wife and three children were not so lucky. The Benue State native who lives in Lagos and is still grieving the loss of his family shares his story and life after the accident.
4 Jan
A NFL player's shocking collapse on field sparks questions about the violence of American football. Finally, we bring you the overused words that have been banished in 2023.
30 Jan
Protests in the South American country against President Boluarte are growing. The conflict threatens to drag Peru back into poverty, with tourism among the sectors that have been hardest hit.
3 Feb
The South Asian nation is facing an acute shortage of gas and electricity, and record inflation has put many basic food items out of citizens' reach. But the country's ruling class is caught in a political tug-of-war.
9 Feb
Nigeria's Supreme Court suspends the old-for-new currency swap deadline that has caused pre-electoral chaos. Also, Algeria is one of many countries that have sent rescue teams to Turkey and Syria in the aftermath of the deadly earthquakes. Finally, we meet a prize-winning Ivorian scientist who is hoping that her work on bio-pesticides will help transform sustainable agriculture.
19 Mar
The US Treasury, Federal Reserve and Federal Deposit Insurance Corporation have unveiled a plan meant to stem any contagion from Silicon Valley Bank's (SVB) failure on Friday. The Federal Reserve will provide an emergency lending facility that will ensure all of the bank's depositors are repaid in full.
14 Mar
The closure of Silicon Valley Bank, followed by Signature Bank, has undermined market confidence and raised recession risk fears. Stocks and equities in Asia dropped amid fears about exposure.
14 Mar
Banking stocks around the world have fallen sharply following the collapse of Silicon Valley Bank and a subsequent intervention by US regulators to protect depositors. Smaller regional lenders in the US are particularly hard hit, with many requests being made to move deposits to some of the country's larger lenders.
15 Mar
After the fall of SVB and New York-based Signature Bank, US authorities took decisive measures to prevent any possible contagion. But the factors that fueled their downfall are keeping Europeans on their toes.
21 Mar
Is America facing a banking crisis? As regulators try to stem the fallout from the collapse of Silicon Valley and Signature Banks, we look at the risks for the rest of the system. Kate Moody speaks to economist Nicolas Veron from the Peterson Institute for International Economics and the European think tank Bruegel.
Latest
20 mins ago
Syrian President Bashar al-Assad has been shunned internationally for over a decade, due to the brutal repression of anti-government protesters and the use of chemical weapons by his regime during the country's civil war. Despite numerous reported atrocities, the leader has clung onto power with the sole support of two major powers: Iran and Russia.
20 mins ago
Extra tuition costs take a large bite out of family finances and are a contributing factor to families choosing to have only one child.
1 hour ago
Griner returned to the basketball court after being detained in Russia for narcotics possession and trafficking. She was released during a high profile prisoner swap.
1 hour ago
The Cannes Film Festival kicks off and while seven out of the 21 directors nominated this year are female, there's anger over the opening movie starring Johnny Depp who's staging a comeback after winning a defamation trial against his former wife, Amber Heard, who accused him of abuse.
2 hours ago
The US president said Washington was doing all it can to strengthen support for Ukraine to fight back against Russia's aggression. Meanwhile, Zelenskyy called on G7 leaders to his peace plan.
2 hours ago
The former prime minister of Pakistan, Imran Khan, has refused to allow police to search his home, saying that they must be supervised. Khan earlier appeared in court to seek protection from arrest.